👋 Welcome to 5 Things PM! Tesla CEO Elon Musk just lost his title as the “world’s richest person.” The new No. 1? An AI tech star .

Here’s what else you might have missed during your busy day.

5 things

1️⃣ Shedding jobs

President Donald Trump promised tariffs would revive American manufacturing. But instead of sparking a jobs boom, hiring has stalled — and industries most exposed to tariffs are losing workers.

2️⃣ Public transit

Funding for train and bus services is so dire that one of the largest cities in the US must rely on a sports gambling company to help. FanDuel subsidized rides for thousands of fans going to and from a Philadelphia Eagles game last week.

3️⃣ Life on Mars

NASA’s Perseverance rover discovered “leopard spots” on a reddish rock collected from the edges

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